Amber Group recently made its debut on the Nasdaq, symbolizing a growing trend of crypto firms venturing into public markets, according to insights shared by Pantera Capital's Paul Veradittakit.

Veradittakit, a partner at Pantera Capital and an early supporter of Amber Group, highlighted the significance of Amber's Nasdaq listing in encouraging more U.S.-based crypto companies to follow suit. This move is expected to not only attract institutional investors who have been eyeing the crypto market but also inject much-needed fresh capital into the industry.

The clear and evolving regulations in the U.S. are viewed as a favorable development for international crypto companies looking to go public, facilitating cross-border collaboration among different financial centers globally.

Amber's successful listing underscores the collaborative nature of the financial landscape, showcasing how it serves as a conduit between American capital markets and Asian innovation. CEO Wayne Huo emphasized that cooperation within the financial sector is crucial for sustained growth and progress.

Amber's Nasdaq Debut Signals IPO Wave for Crypto Firms, Pantera's Veradittakit Says

The provider of crypto financial services for institutions went public last month.

• Amber Group's listing on Nasdaq marks a significant step for crypto companies seeking public listings in the U.S., Pantera Capital's Paul Veradittakit said.
• Veradittakit predicts more U.S. crypto companies will go public, attracting institutional investors and fresh capital.
• Clearer U.S. regulations are seen as beneficial for international crypto IPOs, fostering collaboration between global financial hubs.

With plans to leverage the funding and exposure from its listing, Amber aims to expand internationally and enhance its institutional-grade crypto financial services. Following its listing on Nasdaq, Amber's shares closed at $11.38, pushing its market capitalization to approximately $1 billion. Huo expressed enthusiasm for what lies ahead, emphasizing that this milestone marks just the initial phase of their ambitious journey ahead.

Pantera was an early investor in the Hong Kong-based provider of crypto financial services to institutions, whose subsidiary Amber International listed on the exchange on March 13.

Public listings of crypto-focused companies will attract institutional investors who previously lacked a structured way to enter the crypto space while also bringing in fresh capital, which analysts have noted the crypto market is currently lacking, Veradittakit said in an interview.

Crypto custody companies, stablecoin issuers and developer platforms are considering the process, he said. On Tuesday, Circle, the issuer of the USDC stablecoin, said it filed to go public on the New York Stock Exchange.

Amber's listing also shows that the crypto market is not a zero-sum game between Asia and the U.S., but rather as a bridge connecting U.S. liquidity with Asian innovation and expertise, according to CEO Wayne Huo, who emphasized that the overall financial market is large enough for cooperation.

Amber intends to use the capital and visibility from the listing to support its international expansion and the development of institutional crypto financial services. The company's shares closed at $11.38 on Tuesday, giving it a market cap of about $1 billion.

“Right now, it’s just the beginning of our much, much bigger stage going forward,” Huo said.